Bidding War Breaks Out For Small Strip Of Land

The real estate market has been heating up in some popular locations - like the Hamptons.

STEVE INSKEEP, HOST:

And this week, two Wall Street types competed for a narrow lot bordering both of their properties there. And when we say narrow, the strip of land is almost 1,900 feet long - 1900 feet long and one foot wide.

MONTAGNE: At one end of the lot is the Montauk Highway, at the other, the Atlantic Ocean. The county had intended to sell the strip of land for $10, maybe. The winning bid was $120,000.

INSKEEP: You know what they say about beachfront property, they're not making any more of it - not even one foot more. And that's the business news on MORNING EDITION from NPR News. I'm Steve Inskeep.